South Belfast continues to have the highest house prices in the whole of the city according to the latest University of Ulster Quarterly House Price Index.
The report stated the highest priced city location continued to be south Belfast where the average price in the fourth quarter was £232,039. This was followed by east Belfast with an average of £156,233, west Belfast with £146,919 and north Belfast with £100,268.
In Belfast the average price of housing fell by 4.1% over the year to £157,766 but the fourth quarter was up by 14.2% over the third quarter.
The Belfast market performed better than that for Northern Ireland as a whole.
Alan Bridle, UK Economist, Bank of Ireland, said: “Overall, 2011 may be the year when the local market bottoms out."